TR-1: NOTIFICATION OF MAJOR INTERESTS IN SHARES (i) 

1.   Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached: (ii)

DS Smith Plc

2.   Reason for the notification (please mark as appropriate):

An acquisition or disposal of voting rights: ( X )

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached: (    )

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments: (   )

An event changing the breakdown of voting rights: (    )

Other (please specify): (    )

3.   Full name of person(s) subject to the notification obligation: (iii)

Standard Life Investments (Holdings) Limited (Parent Company) -13.977% comprised of:

Standard Life Investments Limited - 13.967%

Ignis Investment Services Limited - 0.01%

4.   Full name of shareholder(s) (if different from 3.): (iv)

Vidacos Nominees\HSBC

5.   Date of the transaction and date on which the threshold is crossed or reached: (v)

8 April 2015

6.   Date on which issuer notified:

9 April 2015

7.   Threshold(s) that is/are crossed or reached: (vi) (vii)

14%

8.   Notified details:

A: Voting rights attached to shares (viii)(ix)

Resulting situation after the triggering transaction

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments (xv)( xvi)

Resulting situation after the triggering transaction

Total (A+B+C)

9.   Chain of controlled undertakings through which the voting rights and/or the financial instruments are effectively held, if applicable: ^(xxi)

Standard Life Investments (Holdings) Limited (Parent Company) -13.977% comprised of:

Standard Life Investments Limited - 13.967%

Ignis Investment Services Limited - 0.01%

Proxy Voting:

10. Name of the proxy holder:

11. Number of voting rights proxy holder will cease to hold:

12. Date on which proxy holder will cease to hold voting rights:

13. Additional information:

14. Contact name:

GIOS@standardlife.com

Standard Life Investments Ltd

15. Contact telephone number:

(0131) 245 6565

Identity of the notifier, if applicable (xvii)

Full name:

Matthew Jowett

Contact address:

DS Smith Plc, 350 Euston Road, London NW1 3AX

Phone number:

020 7756 1800